Home2018-10-25T21:15:22+00:00

Unraveling Tax Headaches and

Building Financial Vision

Unraveling Tax Headaches and

Building Financial Vision

Wealth Management
Tax Planning & Preparation
15April 2019

How long should I hang on to my old tax records?

April 15th, 2019|

While this is a straightforward question, there is a standard answer for most people, but others may have reasons to hold onto their records for longer. The easy answer for IRS purposes is 3 years. All you need to do is keep copies of your tax returns and records for 3 years, any after that aren’t required for IRS purposes. The reason behind the 3-year rule is something call the [...]

8April 2019

Case Study: A Surprising Medical Deduction

April 8th, 2019|

Today, I want to show an example of an unusual even that had a very large tax impact. While this specific example is very rare, the principles behind the story apply to most of our clients. Every few decades there is always something really big that comes around that you never forget. Everyone has a few of those years in their lifetime. I bet you never thought about the tax [...]

1April 2019

How To Get a Copy of Previous Year’s Tax Information

April 1st, 2019|

It may be that you haven’t filed in two years, or forgot about that job you worked, or many other reasons – but you need to get tax information from a year or more ago... and you don’t have it. What are your options? The lots of work option is remembering what went on, and contacting each individual company (employer, investment, bank, etc) for a replacement copy of your tax [...]

25March 2019

Tax Breaks for Homeowners: What is Deductible, and What’s Not?

March 25th, 2019|

It is not an uncommon question to be asked what someone can deduct with their home. With the new tax laws, many answers are still quite similar, while the benefits may change for others. First the easy question, can I still deduct my home on my tax return. The answer is yes. You can continue to include your mortgage interest paid and property taxes paid as part of your itemized [...]

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